Whoops im down 200 bucks, will it go up? AAAAAAAAAA
These folks are bleeding cash and had to get another capital injection today from the Big Boy hedge funds. It’s working. Remember, it costs you nothing to hold a stock, but every day this goes on Melvin Capital and those other shorting hedge funds lose millions of dollars just to cover their positions. This can only go on for so long. Eventually, they will have to cover big time and that’s when the squeeze happens. Make these fuckers bleed.
EDIT: Better source so it’s not just some sketchy tweet.
Citadel LLC and Point72 Asset Management are investing $2.75 billion into hedge fund Melvin Capital Management, which has been hard hit by a series of short bets to start the year. The influx of cash is expected to help stabilize Melvin, which has lost 30% for the year through Friday, said people familiar with the firm. Melvin started the year with $12.5 billion and had been one of the best performing hedge funds on Wall Street in recent years. The losses stem from Melvin’s array of short bets against companies and have stunned clients and other traders.
:sicko-yes:
I wouldn’t be in this bullshit if it wasnt for a good cause! :Care-Comrade:
Quarantine this in a c/capitalism
Finally above 70 again, i bought at 108 like a loser so we have a lot of work to do
Oof, lol. Keep holding, I think itll peak above 120 this week near market close. Welcome to gambling on wall street.
To really make it you need a diamond will and the ability to stomach a lot of risk and short term loss and not immediately turn away. You also need to know when to cut losses, lol. GME remains the most shorted stock out there and the infinity squeeze hasnt hit hard yet. If you cant stomach a lot of risk, just set your price at like 110 or something so you make a little money.
Also, keep in mind that half the people on wall street bets that made a lot of money just do the opposite of what the other half say to do, lol. It’s really important to study the Greeks (alpha, gamma, theta, etc) and do your own due diligence and make your own thesis on a stock or option. If you dont want to put in that work, just invest in an index fund or something big like coke and just wait 20 years.
edit: oh yeah, I’m not a financial advisor and this should not constitute financial advice, blah blah blah. Don’t take advice of internet people.
Starting to settle around 80! We’ve got a long ride a head of us, and I think it’s gonna work out!
